Thoughts on cash reserves - HELOC acceptable?

[Taylor Green]

Hi,

I have a question on cash reserves for a property. I am going to try and save 5-10% of my projected cash flow every month to put in reserve, as well as anything above my projected cash flow each month. My question is, how much should I initially put into my cash reserve for each property, assuming the major expenses won't need to be replaced for 10-15 years. I'm specially asking about smaller multi-family properties that are 12 units and less.

Also, if I owned a property free and clear would it make sense to take a HELOC out on the property and use that as my cash reserve, or should I always keep a minimum amount of pure cash available... Thanks.